July 22, 2020 / 4:04 AM / 19 days ago

Malaysia's June CPI falls 1.9% year-on-year, in line with forecast

KUALA LUMPUR (Reuters) - Malaysia’s economy remained in deflationary territory for the fourth month in a row in June, with the consumer price index (CPI) falling 1.9% from a year earlier, government data showed on Wednesday.

The drop in the CPI was in line with the median forecast among 12 economists surveyed by Reuters. In May, the index had fallen 2.9%.

June’s decline was driven largely by lower retail fuel prices during the month, with the transport sector index falling 14.3% year-on-year, the Statistics Department said in a statement.

Reporting by Rozanna Latiff; Editing by Muralikumar Anantharaman

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